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20121222
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Search Results 0 to 24 of about 25 (some duplicates have been removed)
more than 4%. fiscal cliff concerns pushed the index to the highest level since july. one bright spot though was on the housing fnt. the monthly case-shiller report found october home prices rose 4.3% mpared with a year earlier. the data giving a late sign of recovery in the housing market is actually gaining traction. first our top story, president obama, cutting his vacation short, flying back to washington, d.c. tonight to work on afiscal cliff deal. now, if the stakes weren't high enough, the treasury department upped ante just a short time ago. it announced the u.s. will hit the debt ceiling on december 31st that is monday. treasury department is undertaking and this is a quote, extraordinary measures to postpone the country's date with the debt deadline, but will this bring a new sense of urgency and motivate politicians to reach a budget deal. joining us now, lindsey piegza, economist with ftn financial and james freeman, assistant editor of "the wall street journal"'s editorial page. james, i will art with you. does the treasury department's statement literally within the last
. >> july 16th, 1969, show time. >> you think about the count down as the curtain opening worry is a wasted emotion. it clouds clear thinking that is absolutely needed when something goes wrong. >> the launch another stellar of fire was lost. three-day trip from the earth to the moon without insurance den the. >> we have a happy home. there's plenty of room for the three of us you. >> he coupled the lunar module from the command module and guided safely to the moovenlt on the way down armstrong and aldrin realized they were going long beyond the landing duck and into a boulder. that's when armstrong took over diverting from the plan he was now flying above unfamiliar territory searching for a safe spot to land while running low on fuel. >> we are on far side. looking at the altitude and it is about 100 feet. >> 60 seconds. >> 60 seconds. >> we are still a ways off the ground we have 60 seconds. i am getting concerned. >> we got very tense in mission control biteling our nails and holding our breath because we are running out of gas. i called eagle 30 seconds. 13 seconds later on the stopwat
level since late july, remember when volatility is up, it usually means the market is down. for five months the vix has traded below its two decade historical average of 20. longest such streak in more than five years. but over the last month, it has rallied about 23%. but ending down for the day. shibani: a lot of uncertainty in today's markets. with the markets bouncing back and bouncinn around surrounding fiscal cliff talks and the clouds overhead, wouldn't it be nice to take a vacation, even better, one that's priced well, a bargain. coming up travelocity senior editor lets us in on deals for new year's eve and what's going to be hot for 2013. looking forward to that. david: we just found out we will probably be working on new year's eve and so are the people in the white house. the president is back there, trading the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from t
and the hill. in july you may recall the senate democrats passed an extension of the middle class tax cuts if r a year at a -- for a year at a cost of 157 billion. that bill also patched the alternative minimum tax for 2012 for 92 billion, but it went nowhere after that. senate republican leader mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesperson says this morning quote, nothing new to report. we don't know yet what senator reid plans to bring to the senate for a vote. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. >> what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference, that would be a package of about 2.6 trillion dollars. you couple that with the 1.1 trillion that's already been done, tha
says discussions continue between the administration and capitol hill. in july you may recall senate democrats passed an extension of the middle-class tax codes for the year. those folks making less than $250,000 per year at a cost of 157 billion. also passing the alternative minimum tax for $92 billion. mitch mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesman told me this morning nothing new to report. we don't know what senator reid plans to bring to the senate for a vote. >> truth of the matter is if we do fall off the cliff, he will come back, propose just what he proposed yesterday leaving washington, and will end up adopting at the washed up at the market in such turmoil and the lack of confidence, why don't we go ahead and act now. >> most numbers are used to spending the christmas to new year's at home, it is time to go back to the table. if anybody sees these representatives from the house in line shops are getting their christmas turkey wish them a merry christmas, civil and say go back to the table, not her own table,
while broadening the base. david: all right. now, that was in july of 2011 and then a couple of week-- a couple of months later came out with the budget, saying the tax system should be simplified and work for all americans with lower rates and brackets. the president has come out time and again saying we shouldn't raise any kind of rates. is anybody calling him on that? >> well, a lot of republicans are wondering what's different now? we still have a sluggish economy, why the change in position? , but the president was out on the campaign trail, time and time again saying individuals and families specifically making over $250,000 a year should be-- should get tax increases so he's sticking to that position, like i mentioned before, the white house seems to be signaling that they would move in the direction of 400,000, those making over 400,000 increases there which may be something that congress could agree on and get through. but again, we're going to have the conservative wave in the republican house saying no increases, so, boehner's going to be in in a position do i get democrat
: the vix is at its highest level since july. lauren simonetti wwll be with us again, thank you very much, at the stock exchange. china training its strong grip on the internet. how will web users respond? take a look at today's other winners and losers. adam: we are a few meeting minutes away from the meeting on the fiscal cliff, most business owners fear going over the cliff will bring their business to a standstill, when chief executive says won't be impacted at all. jeff flock live in bloomingdale, ill. with more. >> fiscal cliff edge missile cliff says the man i'm about to talk to, this is the antenna business. nasdaq, they make wireless antennas for wireless communication, marty singer is the ceo, and a lot of your fellow ceos are on pins and needles worried what is going to happen. that is not you. >> i am not and the tragedy of the fiscal cliff is the distraction from issues that influence the economy such as cost of health care, we are facing a 17% increase. >> walk with me so i can show you the plan. you have a huge plant outside chicago making things here. you think that has be
$8 million from youtube ads, eye tunes downloads, even commercials. since july the video has had close to 9 million views which is even more than justin bieber. love it. >> i love it. i love --. melissa: i'm staring at it. >> my 8-year-old nephew, he brings the house down every time. that thing comes on and he goes crazy. i don't know what it means. don't know any word of the song. melissa: bet you can't do that dance. >> in the shower,o?
been worked out some time ago. august of the end of july the house-passed tax bill and senate over to the senate. there were free taken up an amended and take it back. that's the way things usually work. revenue bills must originate the house of representatives. we get to work six months ago. a work product six there and wait for the senate to take something up. here is what is troubling about all this. we will get through this this week however it turns out or next week, however turns out. you are right about the debt limit. that is going to recess well, and then just after that have an appropriations lapse. so the first three months of the year you have fiscal cliff, debt limit, and appropriations laps all staring the american people in the face. i get it that people are sick of this combat at the same time it is because we have such an nasa's spending problem is the reason why these things are occurring the way they are. tom: you heard the president come out and talk to the white house press corps. he talked about maintain a middle-class tax cuts. he did not define what that is
of deductions going to the simpson-bowles type of thing. let's play a sound from him in july 2007. play the sound bite, i will get your reaction. >> give us 1.2 trillion in additional revenues which could be accomplished without hiking taxes for tax rates but could be accomplished by eliminating loopholes and eliminating some deductions, and engaging in a tax reform process that could have lowered rates while broadening the base. david: without hiking tax rates. a couple months later he came out with his 2012 budget in which he said the tax system should be simplified. it worked for all americans with lower individual and corporate tax rates and fewer brackets. what changed his mind? >> he came out after the election saying he wanted 1.6 trillion in tax hikes, and his election kind of made him go for something figure. even though that meant he couldn't get an agreement. my personal view he does not want an agreement with republicans, he wants us to go over the fiscal cliff because republicans will get flamed and we will have a different scenario with the lowest rate not being 10%, but 1
. so guys when you look at the vix, remember, we haven't been at these levels since july, and as one trader just pointed out, we were 80 points lower in the s&p 500 the last time we were at these levels in the vix, so things aren't exactly matching up, and his call would be to short the vix at these levels because it's certainly high for where the market is right now. back to you. ashley: you're absolutely right. sandra smith at the cme thank you. we have juss turned positive, literally just above the water mark, now we have just gone below. you think about it, we were down 148 points. so as sandra says, maybe someone knows something about that meeting on sunday. who knows. but certainly the market reacting. the closing bell ringing in about 16, 18 minutes, somewhere in there. let's call it 17. he made the right call on bank of america when everybody else was saying dump it. founder of new generation research told clients to buy that troubled bank at the end of last year when no one else wanted in. b of a, guess what, has more than doubled since then. now, he's found another treasure
yet again. it hit the highest level since july. the vix is up 30% over the last month. >>> apple's tim cook is getting a 99% cut in compensation this year. cook will take home $4.2 million compared to 378 million bucks in 2011. apple made clear the decline has nothing to do with performance. cook's sky-high 2011 pay package was largely award of one million restricted shares of stock after he took the reins at apple as ceo. that money would come in handy in washington, wouldn't it? that is our top story. the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> we
this looming fiscal cliff a week away while consumer confidence is at its lowest level since july. retailers need to pull out the big guns to do everything they possibly can to lure shoppers into stores even now before last few hours of christmas eve. we're seeing prices slashed. 50% signs off everywhere. here at the galleria they may have seen a record number of shoppers but shoppertrak which takes a look at traffic over the holiday season, they have actually changed their forecast from 3.3 now down to 2.5. so we'll have to wait and see if this last minute weekend shopping has an effect at all on their bottom line. melissa: it will be interesting to see how final numbers come in although it looks very busy there i would not want to go to a mall today but i'm apparently alone in that. thanks very much, lauren. for anyone who has not gotten a perfect gift for someone on the list there is still time to go to amazon and buy my book! i will shamelessly plug my book. "diary of a stage mother's daughter", not too late. amazon, barnes & noble, they all have it. it's a great read. i have my own here
do with a decision? this is the highest point* of a one-year term. the highest point* is from july. this is the environment right now. it is a holiday but we will watch each sector under pressure. lori: more news then redo this time. tracy: fiscal clef finger-pointing underway in washington. harry reid says they're headed over the cliff. it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and republicans but still no update to report. senate majority leader harry reid said it looks like we're going over a cliff and it is up to the house. >> speaker boner shed call people back to washington today and should not have let them go. they are not here. john boner cared more about his speakership than the financial footing. >> they're now working on a fiscal clear solutions they say the majority leader should talk less and legislate more. also mitch mcconnell says the leader is happy to review with the presi
panel. kimberly fox, i am peer july wealth management. scott martin, united advisors and steve hayes from the "weekl standard." you guys are still at work. everybody in washington gave up and went home. we're all here. i don't know, kimberly, what do you make of what happened today? >> you know, i don't know. they can't play fair and they can't play nicely in the sand backs, make them go home and rethink it and come back and be willing to work. life is about a plan b. if plan b doesn't work you better have a plan-cor plan d. melissa: scott, i'm surprised the markets didn't fall more. are they still holding out hope that these chuckle heads as called earlier today by something else will get something done? now it seems we're should be preparing the swan dive to go over the news call cliff? >> chuckle heads is putting it nicely, melissa. it was ahin tde. there wasn't a lot of people participating in the market move. it is not surprising when everybody sold yet. that probably comes next week. here is the interesting thing. i'm kind of surprise that we're surprised nothing got done. year
each other] >> he got them a few months ago in july when he voted to raise taxes -- [talking over each other] >> we are heading into the midterm is. people have short-term memory is. when they see the vote with the fiscal cliff they will say wait a second, those thirteen democrats -- [talking over each other] >> 13 democrats in the same polling that all people do when they're ready for election and they have seen essentially voters overwhelmingly believe you have to raise taxes on what they consider [talking over each other] [talking over each other] >> that is not so according to the polls and these people are running for reelection. >> suppose we get higher taxes on people making $250,000 a year. i agree that is what is going to happen. that doesn't solve anything. it solves absolutely nothing. this is a spending problem. >> it is a revenue problem aad the spending problem. >> >> we are at pre [talking over each other] [talking over each other] >> under reagan it was 8.7. stuart: we have a fundamental political problem with our system here. how do we get out of this? will tell you wh
june and july? in the past, the nation has gone through some kind of panic attack expecting five dollars for a gallon of gas. >> i do not see five dollars at all next year. i do not even see four dollars. i expect $3.75 to be the height of the peak. what i expect is nothing will happen until the new year when both congress and the president come back. they enact new tax cuts. neither side is interested in any sort of significant spending cuts. liz: where do you see oil and gas prices in that scenario? >> well, in that scenario, i think oil prices could rise if we just had the tax cuts because the spending will continue unabated and the dollar will get weaker and commodity prices will get higher. liz: thank you. let's stay with oil. we will bring in our very own jeff flock. what are you watching out there? jeff: we were at the cme yesterday. talk about what the impact of the fiscal cliff has done to the oil market. take a look at oil prices today. since christmas, we are up about 3%. take a look at the volume. if you look at the volume of trading, and "wall street journal" was ont
legislation passed back in july, which would extend the bush tax cuts for everyone making under $250,000 a year. that that would be a vehicle for trying to get all of this done. there are a lot of other things out there like that expiring payroll tax cut. it looks like that will not get renewed. a whole pile of things. lori: a pile of what? [ laughter ] i could not resist. it is the day after christmas. >> happy new year's. tracy: it surely wasn't a holly jolly christmas for netflix users. 27 million without streaming service. shibani joshi here with the details. shibani: 27 of its 30 million customers did not have service on a knife that is very important for people. they want to watch a movie and not watch a christmas story for the 100th time. there was a blackout on amazon service. they were blocking people from getting access to movies and television shows. it was through numerous devices. there was just no way to get the context. you have to watch television or talk to your family. [talking over each other] shibani: we are finding out whose problem it really is. a lot of finger-
Search Results 0 to 24 of about 25 (some duplicates have been removed)